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  • October 22, 2014
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Results 1 - 10 of 14 for bank deposits

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  1. News - World - Cyprus

    Cyprus girds for run on banks after sealing bailout

    Posted Mar 25th 2013, 09:33pm by Reuters in Nicosia

    ... had suffered fatal hubris. Backed by euro zone finance ministers, the plan will wind down the largely state-owned Popular Bank and shift deposits under 100,000 euros to the Bank of Cyprus to create a “good bank”, leaving problems behind in, effectively, a “bad bank”. Deposits above 100,000 euros in both banks, which are not guaranteed by the state under EU law, will be frozen ...

  2. Business - Money - Cyprus

    Cyprus bailout deposit tax rattles global markets

    Posted Mar 18th 2013, 11:17am by Associated Press

    ... the first time that deposits have been tapped to fund an EU nation’s bank bailout. German finance minister Wolfgang Schaeuble said a “no” vote by Cypriot lawmakers would have huge repercussions ... Associated Press in London Stocks around the world and the euro fell sharply Monday as investors fretted over a plan to tax depositors in Cypriot banks as a way to partly fund a bailout ...

  3. Business - Economy - Cyprus

    Cyprus to reopen banks, impose capital controls

    Posted Mar 28th 2013, 01:58am by Reuters in Nicosia

    ... documentation showing they are paying for imports. Those travelling abroad could take a maximum of 3,000 euros on each trip, according to the draft. Early withdrawals of funds deposited with banks ... bank will be closed and its guaranteed deposits of up to 100,000 euros transferred to the biggest bank. Deposits of more than 100,000 euros at both banks would be frozen. Big depositors ...

  4. News - World - Cyprus

    Cyprus in ‘superhuman effort’ to reopen banks

    Posted Mar 26th 2013, 10:59pm by Agence France-Presse

    ... that will be imposed on large deposits at the Bank of Cyprus could be greater than expected at 40 per cent. The financial controls should be lifted in “a matter of weeks”, Sarris said. The agreement struck ... that shareholders and investors ought to foot the bill instead. But French President Francois Hollande said the safety of bank deposits up to 100,000 euros (US$129,000), called into question by a first ...

  5. News - World - Cyprus

    Cyprus to present redrafted bailout 'Plan B'

    Posted Mar 20th 2013, 09:51pm by Agence France-Presse

    ... a levy on bank deposits over 100,000 euros which had been discussed during the cabinet meeting after parliamentarians rejected the terms of an EU-IMF bailout as “blackmail”. The Cypriot authorities have spent the day in frantic talks, after parliament’s “No” vote of a measure that would have slapped a one-time levy of up to 9.9 per cent on bank deposits as a condition for an EU-led ...

  6. News - World - Cyprus

    Foreigners who lost 3m euros or more in Cypriot bailout to get passports

    Posted Apr 16th 2013, 12:00am by AFP

    ... Agence France-Presse in Limassol, Cyprus €3m loss under Cypriot bailout earns a passport Foreigners with bank deposits in Cyprus who lost at least €3 million (HK$30 million) under the European Union bailout would be given passports, President Nicos Anastasiades said. Non-resident investors who held such deposits before the bailout would be eligible to apply for Cypriot ...

  7. News - World - Cyprus

    Cyprus baulks at painful EU bailout terms

    Posted Mar 17th 2013, 06:51pm by AFP

    ... baulk at an unprecedented tax on savings. Fellow euro zone countries and international creditors imposed the deeply unpopular levy of up to 9.9 per cent on all deposits in the island’s banks ... of the balance is to be made up through the bank deposit levy – the first euro zone bailout in which private depositors are having to help foot the bill. Savers in Cyprus banks reacted with shock ...

  8. News - World - Cyprus

    Cyprus approves first EU bailout measures as clock ticks

    Posted Mar 22nd 2013, 08:56pm by AFP

    ... to be debated including a tax of up to 15 per cent on bank deposits of 100,000 euros (US$129,000) and more. MPs flatly rejected the levy in slightly different form last Tuesday. Three days later, ... per cent on bank deposits above 100,000 euros. Plans for a tax of 9.9 per cent tax on amounts over 100,000 euros were knocked back by lawmakers when an initial plan was put to the vote, ...

  9. Business - Economy - Cyprus

    Cyprus bailout cost jumps in threat to teetering economy

    Posted Apr 12th 2013, 01:56am by AFP

    ... of Cyprus’s revenue-raising needs, there was talk that customers with deposits of more than 100,000 euros at Bank of Cyprus could lose up to 60 per cent of those holdings. That figure could now ... teetering economy in danger of collapse and further endangering large bank depositors. “It’s a fact the memorandum of November talked about 17.5 billion euros in financing needs. And it has emerged ...

  10. News - World - Cyprus

    Cyprus' EU bailout deal to have immediate, lasting impact

    Posted Mar 26th 2013, 12:00am by AFP

    ... of the deal, Cyprus' second biggest lender Laiki (Popular Bank) will be wound up overnight, and investors looked set to lose all unsecured deposits of more than €100,000 (HK$1.01 billion). Mullen, ... immediately, with food and medicine shortages likely in coming weeks as businesses struggle amid a lack of cash in Cypriot banks, which were hammered by the agreement, said economic experts. The tiny ...




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